The Best Homeowners Insurance in Minnesota [2023]


Find a top-ranked Homeowners Insurance Agency in your area

It’s no surprise that Minnesota was ranked the second-best state in the U.S. in 2021. The state boasts beautiful landscapes and wildlife while bordering Canada and Lake Superior — the world’s largest freshwater lake. If you’re looking to purchase a home in the state of Minnesota, we’ve got you covered. 

We at have compiled the best homeowners insurance companies, rates, and coverage options for Minnesota homeowners so that you can protect your home and everything in it.

Average Cost of Homeowners Insurance in Minnesota

The average cost of basic home insurance coverage in Minnesota is $3,010 according to, which is higher than the national average. 

The cost of a home insurance policy for your Minnesota home can differ vastly based on a few key factors:

  • The age of your home: Is your home an older home that is at risk of more structural wear and tear?

  • The square footage of your home: How big is your home? In general, larger homes will cost more to insure.

  • The materials used to build your home: Was your home built using materials prone to things like rotting or structural damage?

  • Building costs in your area: Because insurance deals with repairs and replacement, coverage increases with increased building costs.

  • The location in which you live: What are crime rates like? How close are you to a fire department? How close are you to the water or the shoreline?

  • Any additional features: Does your house have a swimming pool or hot tub that could pose a potential risk to guests? Do you have pets, and if so, what are their breeds? Surprisingly, insurers will look at these things when assessing prices.

  • Your deductible: A higher deductible will decrease your premium, but could cost you more if you file a claim. Talk to your insurance provider about diminishing deductibles to get the best plan that suits your payment needs.

Minnesota Homeowners Insurance Rates by City

Your rate may vary depending on the city in which you choose to purchase a home.. 

Below is a breakdown of the average annual rate by city:


Average Annual Rate


Long Lake

Maple Plain




Oak Island






Hoyt Lakes



The Best Homeowners Insurance in Minnesota

With so many insurance companies to choose from, it can be challenging to narrow down the best coverage options for your specific needs. Below are the best providers based on coverage, cost, and customer ratings.

Allstate logo


Average Annual Rate: ~ $2,907

Notes: Higher than average rates but offers several discounts that may help you save.

Auto-Owners Insurance logo


Average Annual Rate: ~ $1,012

Notes: Low average rates compared to the state average, with flood insurance available for qualified policyholders.

Country Financial

Country Financial

Average Annual Rate: ~ $2,421

Notes: Offers coverage packages for simple shopping.

American Family Insurance

American Family

Average Annual Rate: ~ $1,445

Notes: Scored highly for overall customer satisfaction in J.D. Power’s most recent home study.

Average rates are for annual policies with $250,000 in dwelling coverage.

Cheapest Homeowners Insurance in Minnesota

If you’re looking for an insurance company with more affordable options, Travelers has the cheapest annual rates at $2,110 per year. Find more of the most affordable private insurer options for home insurance below: 


Average Annual Rate



American Family






Fire Insurance




State Farm




Don’t forget that insurance prices vary depending on each homeowner’s location and coverage needs but shopping around to get the best annual rate and premium home insurance quotes is a good idea if cost is an important factor in your decision.

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Find Cheap Homeowners Insurance in Your Area


Below, we tackle some common questions to help you make a more informed decision about which homeowners insurance to choose in Minnesota specifically.

How to Reduce Homeowners Insurance Costs in Minnesota

It’s best not to cut corners when it comes to coverage or insuring your home, however, there are a few ways that you can reduce your costs, without sacrificing your coverage.

  • Increase your deductible. This will help reduce monthly costs to your insurer, but it may mean paying more out of pocket should you need to make a claim. Similarly, paying your 6-month or 1-year premium in full will drive down monthly costs.

  • Bundle policies. Bundling your home and auto insurance can help you save 5–15% on your premiums. Talk to your insurance provider about home and car insurance bundling options and how that helps you save.

  • Take the necessary steps to make your home disaster-resistant. Some examples include:

    • Install a smoke detector and/or fire alarm.

    • Get a burglar alarm and/or deadbolt locks.

    • Install a sprinkler system.

  • Nix the high-risk accessories. Similar to the above point, rid your home of things that are considered “high risk.” For example, did the kids go off to college? Time to throw out that trampoline that’s sitting in the backyard.

  • Seek out other discounts. Some things to look into:

    • Do you work from home? Insurance providers may feel you’re less prone to theft or may spot a fire or flood sooner.

    • Are you retired? You may qualify for a discount. 

    • Does your employer offer a group deal?

    • Even something as simple as choosing paperless billing can help you save!

  • Keep good credit. Some agencies will look at your credit history and charge less for those with good financial strength and standings.

As always, consult your insurance agent to see which of the above discounts you qualify for.

Minnesota Insurance Options in Your City

At, our goal is to connect Minnesota residents with the best local experts and agencies, so you can find the homeowners policy that safely insures your home and most prized possessions. 

View our list of the 13 best homeowners insurance agencies here

Learn more about the best homeowners insurance policy options in your respective Minnesota cities below:

Our methodology evaluates each provider based on the quality and quantity of their reviews, their presence on multiple review sites, and their average minimum rating.